WEDNESDAY, JULY 3, 1974
+BUT I MENTIONED THAT IT HAD BEEN FORCIBLY URGED UPON NË THAT A BETTER HETHOD WOULD BE TO REGISTER AND CONTROL DEPOSIT-TAKING. COMPANIES AND THAT, IN CONSEQUENCE, I'MIGHT DELAY BR ING ING: FORWARD A PROTECTION OF DEPOSITORS BILL.+
THE SECOND AREA OF CONCERN IS THE RELATED BUT MORE "GENERAL ONE OF THE EXTENT TO WHICH THE DEVELOPMENT OF HONG KONG AS A FINANCIAL CENTRE IS DEPENDENT UPON REGULATORY MEASURES BEING. INTRODUCED OVER AT LEAST SOME ACTIVITES OF SOME FINANCE COMPANIES..
THE THIRD AREA OF CONCERN RELATES TO THE DIFFICULTY OF ADMINISTERING, AND THE POSSIBLY UNDESIRABLE EFFECTS OF, OUR CURRENT BANK LICENSING POLICY. +THE FACT IS THAT IT DOES PREVENT THE PARTICIPATION IN OUR BANKING SYSTEM OF SOME OF THE MOST HIGHLY REPUTABLE INTERNATIONAL BANKS AND INHIBITS THE EMERGENCE OF ANY NEW LOCAL BANKS. Į SUGGESTED IN THE BUDGET SPEECH THAT SOME BETRINKING OF OUR PRESENT LIMITED MORATORIUM POLICY WAS REQUIRED, 4. HE SAID.
NEW FIXED PENALTY BILL TO BE PUBLISHED THIS WEEK
******
THE FIXED PENALTY (CRIMINAL PROCEEDINGS) BILL WAS WITHDRAWN TODAY AND WILL BE REPLACED WITH A NEW ONE LATER THIS WEEK:
IN WITHDRAWING THE OLD BILL, THE ATTORNEY GENERAL, THE HON. JOHN HOBLEY, SAID THE NEW BILL WAS THE OUTCOME OF DETAILED.. DISCUSSIONS WITH UNOFFICIAL MEMBERS + IN THE LIGHT OF REPRESENTATIONS FROM THE PUBLIC AFTER THE INTRODUCTION OF THE BILL.+
+THE NEW BILL HAS THEIR FULL SUPPORT,+ HE ADDED.
THE ORIGINAL FIXED PENALTY BILL PROVIDED FOR A FIXED PENALTY' SYSTEM FOR A WIDE RANGE OF TRAFFIC OFFENCES AS WELL AS A 'DEMER IT' POINTS SYSTEM.
IT WAS POSTPONED ON THE REQUEST OF UNOFFICIAL MEMBERS WHO WANTED TIME TO MAKE A DETAILED STUDY OF ITS PROVISIONS.
19 .....
Page 10Page 11